423 Gravier St APT 3BNew OrleansLA70130
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Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Investment Highlights
Investment property for sale in New Orleans at 423 Gravier St APT 3B, New Orleans, LA, 70130 uses $140,888 cash to close to unlock $7,626/yr annual cash flow and $636/mo monthly cash flow. Total monthly income runs $3,268/mo, and a $2,080/mo payment keeps the spread at $636/mo. Purchase price stands at $425,000, and rental yield measures 9.23% with $3,268/mo rent. Return on cash invested shows 25.32% in year one, and 5% annual appreciation builds toward $117,420 over five years. Five-year ROI reaches 131.88% and total cumulative return in cash records $185,801. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $3,268/mo property income covering a $2,080/mo payment rather than investor’s personal income.
Condo
Built in 1923
544.50 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 70130, New Orleans, LA area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,642 (100%) |
| Owner Occupied HU | 2,914 (25.0%) |
| Renter Occupied HU | 5,842 (50.2%) |
| Vacant Housing Units | 2,886 (24.8%) |
| Median Home Value | $581,655 |
| Average Home Value | $726,576 |
Housing Distribution
Address Breakdown
Residential
11,455
Single Family
5,270
Multi-Family
6,185
Businesses
2,549
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Listed by: Rachael Kansas • RE/MAX N.O. Properties
Mls Name: GSREIN
Mls ID: #2538370